EarningsQ2 2026 Earnings Report
MX:TPL Q2 2026 EPS Results
Actual EPS$38.23
Consensus EPS$37.42
Beat/MissBeat by +$0.81
One Year Ago EPS$28.85
MX:TPL Q2 2026 Revenue Results
Actual Revenue$4.22B
Expected Revenue$4.28B
Beat/MissMissed by -$58.98M
YoY Revenue Growth+31.20%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:TPL Upcoming Earnings
Texas Pacific Land's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TPL Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple record financial metrics (revenue, adjusted EBITDA, free cash flow) and strong operational growth in royalty production and produced-water volumes, along with strategic milestones: a completed desalination facility, a significant land acquisition for data center/power expansion, and a large pipeline of potential data center/power projects (~25 GW). Challenges include a sequential decline in water sales volumes due to localized gas-price-driven activity shifts, a one-quarter dip in oil mix, paused buybacks while capital is redeployed to growth initiatives, and typical execution/timing uncertainty for large infrastructure and commercial agreements. On balance, the positive operational and financial momentum combined with tangible project progress outweigh the transitory and execution-related headwinds.Company Guidance
Record Financial Results
Consolidated revenue of ~$246 million (quarterly all-time high), up 4% sequentially and 31% year-over-year. Consolidated adjusted EBITDA of $216 million, up 19% sequentially and 30% year-over-year with an adjusted EBITDA margin of 88%. Free cash flow of $156 million, up 14% sequentially and 20% year-over-year.
Royalty Production Growth
Oil and gas royalty production averaged ~39,700 BOE/day, up 7% sequentially and 20% year-over-year; management highlighted an unhedged royalty position that benefited from strong oil prices.
Produced Water Volume and Pricing Strength
Produced water royalty volumes reported at 4.9 million barrels (reported as per call) with growth of 6% sequentially and 15% year-over-year. Management noted royalty pricing at the high end (~>$0.08 per barrel) and expects pore-space value and price escalators to support continued strength.
SLEM Revenue Momentum
SLEM (surface/pipeline/wellbore easements) revenues of $24 million, a 37% sequential increase driven by strong pipeline and wellbore easement performance.
Strategic Land Acquisition for Data Center/Power Expansion
Acquired over 10,000 acres in Shackelford and Jones Counties for ~ $100 million to expand data center and power-generation efforts outside legacy footprint; company noted nearly 1 million surface acres total and expects to replicate similar opportunities.
Progress on Large-Scale Power & Data Center Projects
Disclosed Project Kilby (multi-gigawatt power facility with Chevron to support a customer data center) and management stated they are in advanced conversations on ~25 gigawatts of projects with hyperscalers, AI labs and power generators and expect at least one or more definitive agreements in the near term.
Produced Water Desalination Milestone
Completed construction and commenced commissioning of Orla Phase 2b desalination facility, targeting eventual 10,000 barrels/day capacity using patented freeze desalination. Management highlighted commercial optionality (high-spec freshwater, concentrated brine, mineral extraction) and potential colocation with data center cooling; grand opening and ribbon cutting planned with hyperscalers and regulators.
Conservative Capital Plan and Reaffirmed Guidance
Year-to-date capital expenditures of $29 million; reaffirmed fiscal year CapEx guidance of $65–$75 million. Planned 2H spending on colocation cooling and waste-heat capture at Orla embedded in prior guidance.
Meaningful Well Inventory
Positioned with 5.6 net permitted wells, 9.5 net drilled-but-uncompleted (DUCs), and 3.4 net completed-not-producing wells, totaling 18.4 net line-of-sight wells.
MX:TPL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed